Retail Sales in Colombia
Colombia - Retail SalesIván Duque of the right-wing Democratic Centre (Centro Democrático) clinched the presidency on 17 June in the second-round run-off against Gustavo Petro of the left-wing Colombia Humana movement (Humana Colombia), securing just over half of the ballot. Continuity on the economic front will be marked by Duque’s orthodox management, along with an ostensibly more pro-business stance. This includes a slash in corporate taxes, easing legal hurdles for foreign investors looking to enter the economy’s oil and mining sectors, and cutting public spending. There will be little room for tax cuts, however, if he is to stick to the country’s existing fiscal rule amid the imminent threat of credit rating downgrades. Notwithstanding the high debt-to-GDP ratio and the need for reforms, growth has picked up since the start of the year, thanks to strong exports aided by a weaker peso. At the outset of Q2, the industrial sector and car sales accelerated markedly in April, while retail sales expanded again at a healthy pace. Moreover, consumer confidence hit an almost two-year high in May.
Colombia - Retail Sales Data
|Retail Sales (annual variation in %)||4.7||8.4||6.4||2.0||-0.2|
5 years of economic forecasts for more than 30 economic indicators.
Colombia Retail Sales Chart
Source: Statistical Institute (DANE).
|Bond Yield||6.65||0.0 %||Jul 13|
|Exchange Rate||2,859||-0.17 %||Jul 13|
|Stock Market||12,262||-0.66 %||Jul 13|
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July 5, 2018
According to the National Department of Administrative Statistics (DANE), consumer prices rose 0.15% over the previous month in June, a smaller rise than the 0.25% month-on-month increase in May.
July 3, 2018
The seasonally-adjusted Davivienda manufacturing Purchasing Managers Index (PMI) climbed to 53.0 in June, up from 51.1 in May, which marks the highest result since January 2016.
June 29, 2018
At its 29 June Board of Directors meeting, Colombia’s Central Bank (Banco de la República, BanRep) unanimously voted to maintain the benchmark interest rate at 4.25%, following a rate cut by 25 basis points at its last meeting held in April.
June 19, 2018
The Fedesarollo consumer confidence index shot up to 8.9 points in May from 1.5 points in April, moving further above the zero-point threshold separating optimism from pessimism among consumers.
June 15, 2018
According to data released by Colombia’s National Administrative Department of Statistics (DANE) on 15 June, industrial output expanded 11.5% over the same month of the previous year in April, contrasting a revised 1.2% year-on-year contraction in March (previously reported: -1.4% year-on-year). Looking at a breakdown of the data, 34 out of the 39 industrial activities recorded an upturn, while the remaining five categories registered a decline.